Hello Everyone!
I am new to this forum but have been lusting for a Shopsmith since the early 90's. I am currently unemployed and thinking about turning my love of woodworking into an small income source since my efforts to find employment have been unsuccessful.
My projects in the past have been limited to my tool inventory, tablesaw, routers and a small band saw.
I am currently looking for a used Shopsmith in my area and would like to inquire as to what is a "typical" price for a used Mark V 510.
Thanks in advance.
Greetings from South Dakota
Moderator: admin
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Flatlander
- Bronze Member
- Posts: 2
- Joined: Sat Dec 29, 2012 12:59 pm
- Location: Southeastern South Dakota
Greetings from South Dakota
Flatlander
1989 Mark V Model 510
1989 Mark V Model 510
Welcome to the sawdust bin.
Prices for used Shopsmiths vary greatly. Up here in North Dakota, they were never in large supply so prices are high. In other parts of the country, they sell quite cheap, possibly because there are more available. I have no idea how easy to find they are in your area.
There is one for sale locally right now.
http://www.bismanonline.com/shopsmith_table_saw
I see units like this available in the southern states for 1/2 of this price quite often.
Maybe the deals in your area are better than here.
Prices for used Shopsmiths vary greatly. Up here in North Dakota, they were never in large supply so prices are high. In other parts of the country, they sell quite cheap, possibly because there are more available. I have no idea how easy to find they are in your area.
There is one for sale locally right now.
http://www.bismanonline.com/shopsmith_table_saw
I see units like this available in the southern states for 1/2 of this price quite often.
Maybe the deals in your area are better than here.
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robinson46176
- Platinum Member
- Posts: 4182
- Joined: Mon Mar 09, 2009 9:00 pm
- Location: Central Indiana (Shelbyville)
Well, it is kind like this... First wishing you the best of luck... Now, (squinting and cringing cautiously) most guys here with experience will tell you that making money from woodworking is far more than tough. 
Most that work at it tend to think more in terms of making enough to pay for tools and supplies than a living. It can be done but it is tough. I would be the last to say don't try it, just be sure that you know where you stand going in. 
In tough times most types of repair are better income producers than production or sales.
If I had to try to make serious money from my wood shop I would go into high quality furniture restoration even though I don't really like that kind of work.
Of course unless you have done it or have a good mentor that comes with a high learning curve to be able to do quality work.
Some do well at custom built in place work. Just making and selling everyday stuff is a tough row to hoe...
I spent over 20 years trying to operate a retail store but it was always the service work that paid the bills.
.
Most that work at it tend to think more in terms of making enough to pay for tools and supplies than a living. It can be done but it is tough. I would be the last to say don't try it, just be sure that you know where you stand going in. In tough times most types of repair are better income producers than production or sales.
If I had to try to make serious money from my wood shop I would go into high quality furniture restoration even though I don't really like that kind of work.
Of course unless you have done it or have a good mentor that comes with a high learning curve to be able to do quality work.Some do well at custom built in place work. Just making and selling everyday stuff is a tough row to hoe...
I spent over 20 years trying to operate a retail store but it was always the service work that paid the bills.
.
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farmer
Francis Robinson
I did not equip with Shopsmiths in spite of the setups but because of them.
1 1988 - Mark V 510 (bought new), 4 Poly vee 1 1/8th HP Mark V's, Mark VII, 1 Mark V Mini, 1 Frankensmith, 1 10-ER, 1 Mark V Push-me-Pull-me Drillpress, SS bandsaw, belt sander, jointer, jigsaw, shaper attach, mortising attach, TS-3650 Rigid tablesaw, RAS, 6" long bed jointer, Foley/Belsaw Planer/molder/ripsaw, 1" sander, oscillating spindle/belt sander, Scroll saw, Woodmizer sawmill
farmer
Francis Robinson
I did not equip with Shopsmiths in spite of the setups but because of them.
1 1988 - Mark V 510 (bought new), 4 Poly vee 1 1/8th HP Mark V's, Mark VII, 1 Mark V Mini, 1 Frankensmith, 1 10-ER, 1 Mark V Push-me-Pull-me Drillpress, SS bandsaw, belt sander, jointer, jigsaw, shaper attach, mortising attach, TS-3650 Rigid tablesaw, RAS, 6" long bed jointer, Foley/Belsaw Planer/molder/ripsaw, 1" sander, oscillating spindle/belt sander, Scroll saw, Woodmizer sawmill
A typical price… I don't know if there is a typical price. I had my first 510 & all the SPTs including a free-standing planer given to me by my father. I upgraded that 510 to a 520. During the 2000's, I'd pick up items when they would go on sale.
A friend gave me a 1955 Greenie. My other 510s were around the $150 range. I stumbled on a 1999 510 Craig's List deal with every SPT, including a planer and a Incra fence system which all together would cost more than $7K new, but I got extra sets of planer & jointer knives, table saw blades and much more for only $1K. The seller believed the Shopsmith was unsafe & he wanted a Saw Stop and essentially gave me quite a bit and wanted it gone so he could buy a Saw Stop TS. His fear became the driver of the deal.
Then in April someone a posted a CL link for a 520 & a new bandsaw for only $600. An insane price as the 520 & bandsaw looked brand new. I've seen other people get better deals. It comes down to being at the right place at the right time. I came across another 510 back in 2007/8 where the seller had the Shopsmith in a storage facility. He wanted $150, I believe. I offered $75 and he said sold. I never bothered to turn it on. A week later, I met the biggest used Shopsmith Ebay seller in my area. He told me he had seen that Shopsmith in the Storage place, but the motor wouldn't run. I never bothered to turn the headstock on. I was interested in spare parts. But when I got the Shopsmith home & plugged it in, it came on. I think the outlet was either off or dead at the storage place and the seller thought he was dumping a Shopsmith with a bad motor on me. But I simply cleaned it up and planned to rebuild it. I can break a Mark V down in 10 minutes or less.
My point is if you are looking for Shopsmith stuff, let people know you have an interest. I happened to mention it in passing to a friend and she told her husband that I would take that 'huge piece of junk' in the basement- a 1955 Greenie for free. The Greenie had a stripped gear in the speed knob- a $16 repair. i prefer purchasing Shopsmiths off of Craig's List because people usually give you far more Shopsmith accessories in an extra box or two that can save you a lot of money from buy off of Ebay or Craig's list.
I might suggest to you to put in wanted ads in Craig's List or other web sites around you. I have seen dozens of used Shopsmiths for sale. Sellers often see the retail prices and believe a 30-year Shopsmith is worth 50% or more of its value. The last Shopsmith for sale near me was a 510 and a bandsaw for $800. The Shopsmith was a rust bucket and had no evidence of any maintenance. The seller didn't even know how to turn the headstock on. He also had a DC-3300 & didn't know it. That was a $100-150 Shopsmith at the most in my opinion.
I attempted to show him how important maintenance was when I pulled the motor cover off and found 30+ years of saw dust buildup and no evidence of ever being lubricated. I don't think he ever sold it.
One of those might be good for you if you same some mechanical skills & ability to clean up the way/bench tubes and know how to read the maintenance instructors or watch the You Tube videos or other videos that are available and get it for a great price. There are many 1950's era Mark V Shopsmiths still being used and in many cases working better than when they were new as a result of upgrades.
Keep your eyes open and be prepared to travel a few hours and you might be surprised. Some Craig's List seller might offer to meet you halfway if there is a drive involved. Some Craig's List sellers will actually ship even though Craig's List is designed for face-to-face transactions.
The Shopsmith is a multipurpose tool and will last 50+ years if you take care of it. I have a number of 10E/ERs- the first Shopsmith models. I warn you that getting in to Shopsmiths can become addictive. I have at least 1 or 2 of anything ever sold by Shopsmith. Have run out of space. I have two PowerPro DIY upgrades and the parts for two Mark 7s out of my 520s. Please consider yourself warned about the
A friend gave me a 1955 Greenie. My other 510s were around the $150 range. I stumbled on a 1999 510 Craig's List deal with every SPT, including a planer and a Incra fence system which all together would cost more than $7K new, but I got extra sets of planer & jointer knives, table saw blades and much more for only $1K. The seller believed the Shopsmith was unsafe & he wanted a Saw Stop and essentially gave me quite a bit and wanted it gone so he could buy a Saw Stop TS. His fear became the driver of the deal.
Then in April someone a posted a CL link for a 520 & a new bandsaw for only $600. An insane price as the 520 & bandsaw looked brand new. I've seen other people get better deals. It comes down to being at the right place at the right time. I came across another 510 back in 2007/8 where the seller had the Shopsmith in a storage facility. He wanted $150, I believe. I offered $75 and he said sold. I never bothered to turn it on. A week later, I met the biggest used Shopsmith Ebay seller in my area. He told me he had seen that Shopsmith in the Storage place, but the motor wouldn't run. I never bothered to turn the headstock on. I was interested in spare parts. But when I got the Shopsmith home & plugged it in, it came on. I think the outlet was either off or dead at the storage place and the seller thought he was dumping a Shopsmith with a bad motor on me. But I simply cleaned it up and planned to rebuild it. I can break a Mark V down in 10 minutes or less.
My point is if you are looking for Shopsmith stuff, let people know you have an interest. I happened to mention it in passing to a friend and she told her husband that I would take that 'huge piece of junk' in the basement- a 1955 Greenie for free. The Greenie had a stripped gear in the speed knob- a $16 repair. i prefer purchasing Shopsmiths off of Craig's List because people usually give you far more Shopsmith accessories in an extra box or two that can save you a lot of money from buy off of Ebay or Craig's list.
I might suggest to you to put in wanted ads in Craig's List or other web sites around you. I have seen dozens of used Shopsmiths for sale. Sellers often see the retail prices and believe a 30-year Shopsmith is worth 50% or more of its value. The last Shopsmith for sale near me was a 510 and a bandsaw for $800. The Shopsmith was a rust bucket and had no evidence of any maintenance. The seller didn't even know how to turn the headstock on. He also had a DC-3300 & didn't know it. That was a $100-150 Shopsmith at the most in my opinion.
I attempted to show him how important maintenance was when I pulled the motor cover off and found 30+ years of saw dust buildup and no evidence of ever being lubricated. I don't think he ever sold it.
One of those might be good for you if you same some mechanical skills & ability to clean up the way/bench tubes and know how to read the maintenance instructors or watch the You Tube videos or other videos that are available and get it for a great price. There are many 1950's era Mark V Shopsmiths still being used and in many cases working better than when they were new as a result of upgrades.
Keep your eyes open and be prepared to travel a few hours and you might be surprised. Some Craig's List seller might offer to meet you halfway if there is a drive involved. Some Craig's List sellers will actually ship even though Craig's List is designed for face-to-face transactions.
The Shopsmith is a multipurpose tool and will last 50+ years if you take care of it. I have a number of 10E/ERs- the first Shopsmith models. I warn you that getting in to Shopsmiths can become addictive. I have at least 1 or 2 of anything ever sold by Shopsmith. Have run out of space. I have two PowerPro DIY upgrades and the parts for two Mark 7s out of my 520s. Please consider yourself warned about the
One Greenie, Two Mark 7s,Three 510s and much more…
I'd say that one's worth about $100 on the typical used market by the look of it...at least I wouldn't pay any more than that for it. Have some patience and be willing to drive and you should be able to find a 510 for $400-$800 depending on condition and accessories etc. that come with it. You'll likely see a lot being sold for $1000-$2000 as well but that's just folks dreaming they'll ever recoup that kind of $$.
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tomsalwasser
- Platinum Member
- Posts: 928
- Joined: Mon Feb 08, 2010 2:09 pm
Farmer is correct, this is very difficult to do, but a topic I have spent a lot of cpu cycles contemplating. I can only apply what I've learned from the world of music. Colleges across the country turn out music majors by the busload. Maybe 1/1000th of 1 percent make a living performing music. The rest either teach music or just enjoy music and know their life is enriched by the ability to do something amazing like playing a musical instrument to the occasional admiration of friends and family.Flatlander wrote:Hello Everyone! ...thinking about turning my love of woodworking into an small income source...
So I contemplated the teaching aspect. There are numerous woodworking schools large and small across the country that cater to someone with a few bucks in their pocket and a burning desire to be creative and make things out of wood. I think a great way to make money out of woodworking is to teach others how to spend all their extra money on a fantastic hobby. Especially entry level classes, and classes with hand tools.
I see a lot of empty storefronts in my neck of the woods. Every time I have to drive across town to go to Rockler I wonder if a woodworking retail store could make a go of it closer to home.
Good luck and I hope you find a used Shopsmith! I know here in the Twin Cities they seem to be few and far between.
Best,
Tom